Amkor Technology (NASDAQ:AMKR) Rating Lowered to Hold at Melius

Melius cut shares of Amkor Technology (NASDAQ:AMKR - Free Report) from a buy rating to a hold rating in a research note published on Monday morning, Marketbeat reports. Melius currently has $30.00 target price on the semiconductor company's stock, down from their previous target price of $34.00.

Other research analysts also recently issued research reports about the stock. KeyCorp lowered their price target on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on Amkor Technology from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, October 29th. Morgan Stanley cut their target price on Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Amkor Technology from $48.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com cut shares of Amkor Technology from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR traded up $0.20 during mid-day trading on Monday, reaching $26.73. The stock had a trading volume of 1,605,018 shares, compared to its average volume of 1,251,439. The company has a market cap of $6.59 billion, a P/E ratio of 18.06 and a beta of 1.83. The business's 50 day moving average price is $26.31 and its 200 day moving average price is $31.01. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Research analysts expect that Amkor Technology will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.0827 per share. This is a positive change from Amkor Technology's previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, December 4th. Amkor Technology's payout ratio is currently 22.30%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 31.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in Amkor Technology during the third quarter valued at approximately $930,000. Valley Wealth Managers Inc. increased its holdings in shares of Amkor Technology by 115.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company's stock valued at $22,359,000 after acquiring an additional 391,002 shares during the period. Geode Capital Management LLC raised its position in shares of Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company's stock worth $64,101,000 after acquiring an additional 131,106 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Amkor Technology in the 2nd quarter worth $874,000. Finally, General American Investors Co. Inc. purchased a new stake in shares of Amkor Technology during the 3rd quarter worth $3,060,000. 42.76% of the stock is currently owned by institutional investors.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.